Germany's cabinet on Wednesday agreed plans to cut CO2 emissions by up to 78 million tonnes by 2020, pushing operators to shut some coal-fired plants, to help Europe's biggest economy meet bold targets to fight climate change, government sources said.
Europe
GlaxoSmithKline drops plan to sell off older drugs business
GlaxoSmithKline said on Thursday it had decided not to sell a portfolio of older drugs marketed in North America and Europe after considering offers from potential buyers.
Only 13 percent of financial firms' top executives are women: study
Only one top executive in eight at major financial services firms is a woman and the pace of change at banks and other companies is too slow, according to a diversity study.
Vatican finds hundreds of millions of euros 'tucked away': cardinal
The Vatican's economy minister has said hundreds of millions of euros were found "tucked away" in accounts of various Holy See departments without having appeared in the city-state's balance sheets.
Majority of Air France pilots back low-cost unit deal
A majority of Air France (AIRF.PA) pilots backed a deal reached in October to develop the company's low-cost operations in France, the airline said on Wednesday.
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The euro zone economy may face another contraction after business activity grew less than expected in November despite heavy discounting, surveys on Wednesday showed, although Asian readings were more upbeat.
Heavy discounting failed to stop euro zone business activity growing less than thought last month, a survey showed on Wednesday, suggesting the bloc's economy may contract again early next year.
Lloyds Banking Group (LLOY.L) has sold a 1.6-billion-pound ($2.50 billion) portfolio of Irish mortgages to Goldman Sachs (GS.N) and CarVal, a private equity group, the Financial Times newspaper reported.
IBM is enjoying a wave of major technology outsourcing deals from European customers in the fourth quarter and the new contract signings are not over yet, an executive for the computer services giant said in an interview.
Standard Chartered (STAN.L) said it is considering replacing its banking advisers, UBS and JPMorgan, and has invited rival investment banks to pitch for the potentially lucrative business.
Germany's auto market will return to growth for the first time in three years in 2014 and may expand further next year, the VDA industry association said on Tuesday.
British insurer Aviva (AV.L) agreed terms on Tuesday for a 5.6 billion pound ($8.8 billion) all-share takeover of rival Friends Life (FLG.L), responding to pressures caused by pension industry reform.
Stock markets recovered from their latest bout of oil and growth-related trauma on Tuesday, helped by promises from U.S. policymakers and the head of the IMF that lower fuel costs would boost the world economy.
Russia on Monday scrapped the South Stream pipeline project to supply gas to southern Europe without crossing Ukraine, citing EU objections, and instead named Turkey as its preferred partner for an alternative pipeline, with a promise of hefty discounts.
